Posts Tagged ‘Advice’

RP Funding President Provides Consumer Advice on Saving Thousands! with Robert Palmer


RP Funding President Provides Consumer Advice on Saving Thousands! with Robert Palmer

RP Funding

Orlando, FL (PRWEB) October 13, 2011

Consumers looking for in-depth tips on how to save money on mortgages, credit cards, personal loans and more can tune in to Saving Thousands! with Robert Palmer on on WDBO AM 580 and FM 96.5.

Every Sunday at 11:00 a.m. Robert Palmer, President of RP Funding, answers money questions as part of the station’s Ask the Experts series.

“My goal is to provide consumers with tips and advice that can save them a lot of money,” said Palmer. “We’re talking about easygoing things that people can do that will relieve them thousands of dollars.”

On a Recent show, Palmer took calls from listeners essaying to determine whether to purchase a house and uncertain about the benefits of owning a home.

“A lot of times I hear, ‘What if I lose my job?’ ‘What if I get in over my head?’” said Palmer. “These people are just taking themselves out of the market in this great time to buy. Usually people who second-guess buying a house are the ones who have their finances in order, work a steady job, have a decent credit score and will qualify to get into a home.”

Palmer encouraged buyers to do their homework to compare monthly rent to mortgage payments – in a lot of cases it’s cheaper in the long run to buy.

“Basically you have to live someplace,” said Palmer. “The profit to owning a home are triple what they are to rent. When you buy your own house, you are setting the roots for a smart financial future.”

Another caller asked astir selling a home to a family member. Palmer’s advice is to gift 15% equity to the buyer, in this case your family member, in order to eliminate their out-of-pocket costs.

Other topics covered on Saving Thousands! with Robert Palmer include lending consolidation, the best ways to pay off debt and avoiding costly qualify-ons to loans.

Palmer is famous for encouraging consumers to shop for a mortgage – a simple way to save thousands of dollars on a house loan.

RP Funding is known as Orlando’s “No Fee” Direct Mortgage Lender. The company underwrites, closes and funds its own loans to offer customers the better rates and highest level of service.

To learn more about RP Funding, go to RPFunding.com or name 407-802-3344.

About RP Funding: RP Funding is a licensed Florida Mortgage Lender with offices in Maitland, Florida. As a direct lender, RP Funding underwrites, closes and funding its own loans in order to offer customers the best rat and highest plane of service. Unlike banks and mortgage brokers, RP Funding offers “wholesale” mortgage ratting directly to consumers to save them money. The only fee that RP Funding customers pay is when they choose to buy down to a lower occupy rate through a rate discount cost. For more information, please visit http://www.rpfunding.com/.

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I have received a Christmas bonus from work, and need advice on what to do with it?

cpb asked:


First option is to put it all toward credit card debt. This is attractive because I would love to get rid of monthly cc payments.

Second option is to put it all in savings. This sounds good because I have not been able to save as much as I would like for an emergency. This would give me some peace of mind.

Third option is to pay it toward my mortgage and/ or home equity line of credit. I like this idea because when I sell my house, I can put more into a new one.

Fourth option is spend it all. Probably shouldn’t do this, but it is an option
I do have a retirement plan at work that I have been contributing to for 4 years.

RONALD

 

Can I get a home loan for renter’s income being unemployed?

Chris asked:


Due to the down economy I was laid off from my job. This is happening everywhere but I was wondering if I could still get a second mortgage as a type of “rental income”. I currently own a home, well still have a mortgage. But are lenders still willing to give out loans to people who are unemployed but yet looking to make a second source of income from rent. Or could I pull out a line of equity on my current home? Please give me some advice

(reason I ask: Found a steal on a home appraised at $99,000- selling for $30,000)

ORLANDO

 

Is it better to get a conforming loan plus 2nd trust or to get one “mini jumbo” loan?

savesomethingwild asked:


We are getting ready to purchase a home and will be borrowing $480k. We have called around to various lenders and have received conflicting advice. Is it better to:
1) get a conforming loan for the first $417 (today’s rate of 5.875%) and then get a second trust for the remaining $63k. And then for the second trust, should we do a home equity line of credit (only 5% now but could rise as economy improves) or an amortized second home loan at 7.5%
OR
2) just get one mortgage at the “mini jumbo” rate, which is only an eighth of of a percent higher (?) than the conforming loan rate.

HELP! this is so confusing! Thank you

LYLE

 

Whats the best and quikest way to pay off high rate second loan on first home purchase?

Dwan J asked:


I just purchased purchased my first home for $181,900. I put 10% as a down payment$18,400 plus $500 ernest money. I had only 10K on hand a had to borrow the other 8K from another lender. My question with the 10% down payment does that give me some kind of equity if so when can I refi to get some cash to pay off the high interest 8K loan. Or could I get another loan at a lower rate and pay off the higher rate loan. I need some advice on the best way to go about this. Because we can handle the mortgage and the loan but want to get out of it as soon as possible. All serious suggestions are appreciated

GONZALO
 

What to look for when shopping around for home equity loans?

27amDotCom asked:


Any advice on what to look for when shopping around for home equity loans?

Are there referral commissions?

I have a couple of individuals looking for a home equity loan … I told them I’d look into it for them. I’d like to find a quality vendor, but if referrals commissions are paid out, I’d like to negotiate for that too.

How do I figure out what is a “great deal”?

PS. I’ll happily take general replies but this would be specific to Calgary, Alberta, Canada.

IVORY

 

I want to broker auto loans from my home office, but have no ideal how to get started. advice, please?

cj.lowery asked:


I currently work in the mortgage financing industry. I would like to be able to refinance my customers auto loans along with their home loans. Many of them do not have the equity to pay their auto loans off and many have rates on them ranging from 18-26%. This would allow me to provide another beneficial service and supplement my income.

Any suggestions on how to get started? Companies that employ auto finance brokers remotely?

ALAN